"January 8 Market Analysis: Waiting for a Top Takes Time, High Shorts and Low Longs Throughout January"

Yesterday, Bitcoin continued to decline, rebounding after finding support at 91,500, but then broke below again, turning that level into resistance. Today, this level serves as the dividing line for short-term trading. On the daily chart, although the price dropped again near 90,000, there is still an expectation of a rebound to create a new top. Today’s focus is on whether a rebound occurs first and whether the key resistance level will pull back.

$BTC Today, Bitcoin’s movement depends on the choice around 91,500. If it reclaims this level, it can aim for resistance at 92,500 and 93,700. If it encounters resistance again, support levels at 90,200 and 89,600 should be watched. Keep a good rhythm for monitoring the market and executing trades.

$SOL Sora mentioned yesterday that the 135 support level prompted a rebound. Today, the resistance is at 140.3, and it’s important to observe the direction. If it moves up again from here, watch the resistance at 144.6. If it declines, support remains at 132-131. If this support doesn’t hold, consider a rebound from 124.6. Remember these two zones for Sora’s support.

$ETH Chives’ Market today is watching how to choose direction around the 3195-3200 resistance. If it moves up again, look at 3265. If it declines, support levels are at 3045 and 2990, where you can attempt phased rebounds.

In summary, the top here may not be a single point; it might give you a spike or gradually rise before a single bearish candle catches traders off guard. The recent rhythm should be to watch for a rebound to key resistance levels followed by a pullback. High shorts and low longs will be the rhythm for the remaining days of January. If you don’t understand the market or can’t determine the direction accurately, welcome to join the Chief Analyst. Click to join the Chief Analyst community (Follow the Chief for daily market analysis and precise entry points. Long and short positions are for reference only. Strict stop-loss and take-profit are recommended).